Since they're putting so much weight on the issue…

I’ll be looking in more depth (for the mean time) the wider economic climate, and how this may be affecting ratepayers.

We’ve been told that the economic climate isn’t right for stadium development, and that in no uncertain terms that the economic outlook for the community is gloomy, if not somewhat apocalyptical. I’ve commented on Cr Cull’s thoughts on the economy (more correctly his worries about the US economy), while others have submitted to the recent Council planning hearings, that this was according to M Stott “very dark chapter in the annals of Dunedin history”, while others at the StS infamously toe the doom and gloom line.

Only problem is, yes for America and other parts of the world this may in fact be the case, but for New Zealand, what is written in the Economist, Time, CNN or even New York Times, does not translate to that of the New Zealand situation, and for very distinct economic reasons.

So despite the seemingly unavoidable doom and gloom that should be reason enough to curtail the stadium, the facts just tell another story. Just last week the Governor of the Reserve Bank of New Zealand stated that “If you want to be technical about it we believe the recession has ended and we have positive but very low growth for the next four quarters”. Time will of course tell if he is correct, but considering he is at greater privilege to the economic data for the health of this country than Cr Cull or Mr Stott is, then we have to take him at his word.

Last month it was shown that the average Kiwi family, with tax cuts, cuts to the price of fruit, vegetables and other foodstuffs, coupled with the decline in the cost of petrol, is better off to the sum of $66 a week. Now that’s no small amount. We’ve certainly noticed that petrol is now nearly $1 a litre less than what it was earlier this year. So on a full tank, that makes our family $45 better off each fill. These factors, including the cuts to interest rates (now at levels not seen for many years, and predicted to go lower), have all contributed to what was revealed today, as rising consumer confidence.

Form the Herald today “The latest Roy Morgan consumer confidence survey, conducted over the two weeks November 17-30, shows New Zealanders have become more confident since the election”. And it seems that we’re looking forward; “Looking further ahead we are increasingly confident with 51 per cent (up 5 per cent) of New Zealanders expecting “good times” for the country during the next five years while only 26 per cent (up 1 per cent) expect “bad times”. {Source, The Herald}

So once again to those that say this isn’t the time to be building a stadium, and those who despite evidence to the contrary, continue to play down the future growth of the countries economy, I say, look at the facts, they’re speaking for themselves.

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Filed under Economics, Hot air

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